Virtual Reality and Insurance: A Budding Relationship

What was once thought to be solely fantasy, virtual reality programs are making a real comeback. While many believe this technology is unique to the gaming industry, it’s been proven that virtual reality has many different applications in the business world. As the insurance sector and many commercial businesses reap the benefits of such technological advancements, it’s important to note the cyber risks that are involved. Therefore, as we take a closer look at this subtle relationship, secure your operations and your security exposures with a comprehensive and customized Miami Cyber Liability Insurance policy.

The virtual reality headset Oculus Rift was initially created to immerse the gamer into the game rather than feel like they were looking at a screen. With the use of low latency head tracking and stereoscopic 3D, this has become a reality. So, how does this play into the insurance and business worlds?

According to Business Insurance USA, virtual reality could enable you to have a risk control representative get a thorough look at all the possible hazards within a building before insuring it or even actually visiting it. Thanks to new technology, it’s also possible to administer virtual driving tests to people before you offer them auto insurance so you can make sure they drive safely first.

Not only does this increase efficiency, but travel costs can be reduced, as well. In turn, insurance companies save money in the long run by not having to train and hire more associates to do the jobs that these computers can do.

As virtual reality headsets are available in the next few years, business owners must evaluate their existing risk exposures and how they will increase with the use of this technology. So, before proceeding with the purchase of the equipment when it’s available, it’s critical to evaluate how it might affect your business.

At iSure Brokers, we have a unique understanding of the risk exposures that businesses face. Our customized cyber liability policies offer the peace of mind you need with quality you can count on. For more information, contact us today at (305) 223-2544.